Porsche Closes e-Bike Division, Which Includes Fazua & Greyp

Porsche has announced the closure of its e-bike division, Porsche eBike Performance GmbH, which includes the brands Fazua and Greyp. This decision forms part of a broader strategic realignment by Porsche AG, which involves selling off non-core subsidiaries and focusing exclusively on its primary automotive business. The move follows Porsche’s earlier investments in related companies, including a full acquisition of Fazua in 2022 and a significant stake in Rimac, the hypercar manufacturer that also owns Greyp e-bikes. Despite Fazua’s positive market reception, the brand struggled with product development and support, limiting its appeal as a drive system option. Greyp, meanwhile, failed to gain significant traction, partly due to outdated bike geometry, despite having innovative connected technology. Porsche’s decision to exit these ventures reflects the challenges of maintaining competitive e-bike technology alongside its core automotive operations, especially as market conditions for e-bike drive systems have shifted. The closure will impact around 360 employees at the Ottobrunn and Zagreb sites, with over 500 jobs affected across Porsche’s subsidiaries, including Cellforce Group GmbH and Cetitec GmbH. Dr Michael Leiters, Chairman of Porsche’s Executive Board, emphasised the necessity of refocusing on the company’s core business to secure its future, acknowledging that this entails difficult but essential cuts. The company plans to sell its stakes in Bugatti Rimac and the Rimac Group as part of this strategic overhaul. Looking ahead, Fazua will need to find a new owner to continue its operations, though no further details have been disclosed. Porsche’s withdrawal from the e-bike sector signals a retreat from diversification efforts into electric mobility beyond automobiles, underscoring the competitive and rapidly evolving nature of the e-bike market. Updates are expected as the situation develops and new ownership arrangements emerge.